Six-Unit Apartment
For Sale
$375,000
412 Wood Creek Dr, Radcliff, KY 40160
Multi Family, Radcliff, KY
Property Size3,905 SF
Price / SF$96.03
Days on Market175
Property Features for 412 Wood Creek Dr
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 6, Bathroom 5, Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 6, Bathroom 4
Subdivision
ELMWOOD GARDENS
Lot features
Cul-De-Sac
Directions
Follow I-65 S to KY-313 N/Joe Prather Hwy in Hardin County. Take exit 102 from I-65 S. Continue onto KY-313 N/Joe Prather Hwy for 9.3 miles and turn right onto US-31W N/S Dixie Blvd then Turn left onto Elmwood Drive.
Standard status
Active
APN
160-10-03-052
Size
3,905 SF
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
central air
Building Details
Year built
1983
Number of units
6
Building materials
Vinyl Siding, Wood Frame
Roof type
Shingle
Architectural style
Contemporary
Listing Agency:
Homepage Realty
(502) 690-6685
Listed By:
Ashley Brown · License #214651
(502) 690-6685
Added: Mar 11
Changed: Aug 31
Last Checked: Sep 1 at 8:06AM
MLS# 1711118
Copyright © 2026 Greater Louisville Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1983, this 3,905-square-foot apartment building contains six one-bedroom, one-bathroom units. Five apartments have been remodeled, and all units include central air conditioning. Vinyl siding, wood-frame construction, a shingle roof, public water, and public sewer complete the core property improvements.
Each residence is individually metered, with tenants responsible for utilities, including water. The landlord handles trash and lawn care, while dedicated resident parking is provided. Five of the six units are leased. The property is located in Radcliff, near Fort Knox and Elizabethtown, Kentucky.
Each residence is individually metered, with tenants responsible for utilities, including water. The landlord handles trash and lawn care, while dedicated resident parking is provided. Five of the six units are leased. The property is located in Radcliff, near Fort Knox and Elizabethtown, Kentucky.
Key Highlights
- Six 1‑bedroom, 1‑bathroom units in a 3,905‑square‑foot building
- Five of six units have been recently remodeled
- Five of six units are currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,259
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$625,180
$625.2K
Cap Rate 7%
$446,557
$446.6K
Cap Rate 9%
$347,322
$347.3K
Market Conditions
NOI Build-Up for 3,905 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$59.5K $15.24/SF
− Vacancy
−$2.7K −$0.69/SF
EGI
$56.8K $14.55/SF
− OpEx
−$25.6K −$6.55/SF
NOI
$31.3K $8.00/SF
Area
Hardin County, KY
Vacancy
4.50%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$625,180
Cap Rate 7%
$446,557
Cap Rate 9%
$347,322
Alternative Uses
Best Use
Apartment 5plus
$446.6K
$390.7K – $521.0K
NOI $31,259 @ 7.0% cap · market cap 8.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$706.9K
$618.6K – $824.7K
NOI $49,484 @ 7.0% cap · market cap 13.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
Explore this area
Business Placement
Demographics for 40160, KY
23,582
Population
9,991
Households
2.4
Avg Household Size
37
Median Age
15%
College-Educated
89%
High-School Grad
17.1 sq mi
ZIP Area
1,379
Density / Sq Mi
$59,293
Median Household Income
$34,373
Median Earnings
$889
Median Rent
$161,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Remodeled interiors, individual utility metering, and resident parking support straightforward property operations.
Where is this apartment building located?
The property is located at 412 Wood Creek Dr Radcliff, KY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Six 1‑bedroom, 1‑bathroom units in a 3,905‑square‑foot building; Five of six units have been recently remodeled; Five of six units are currently leased
